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What can I do to get more (or better) quotes for my loan request ZR-RVZWSRT

My Zillow quote says my credit score is between 720 - 739, but I obtained my score from all three rating "agency's and they all say it is 774.  What's going on with this and how can I change it??
  • October 08 2011 - Kirkland
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Answers (2)

A quote is exactly that, no more than a quote. When ever making a quote especially on an online informal format the only way you can compete is giving the most competitive pricing. Unfortunately often times consumers are misquoted due to subtle complications, or misinformation.

You should use a quote to find a few lenders that are competitive, then from there investigate which of those lenders will give you the best customer service. Their knowledge, experience, and level of service will go a long way to letting you know whether the quote is accurate so when you go to closing you will be looking at the same figures.

Unfortunately a mortgage is not a commodity, because there are so many variables that can tweak your situation, some of which are not easy to foresee. For instance a consumer may have a non permitted addition they are unaware of which limits the number of lenders available thus drastically affecting your initial quote.

In the end subtle changes like this and others will only be caught by true mortgage professionals. So start with the quotes, but engage the lender to make sure they can deliver.
  • July 03 2012
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I would not be so concerned with how Zillow scores you credit, it is the 3 real credit bureaus (Trans Union, Equifax & Experian) that you should only be concerned about.  Perhaps, they may be estimating only 1 of the 3 actual bureaus, and you may want to double check with these agencys for accuracy, since it is very rare when they all grade your exact score the same. For assuarnce, go to: www.AnnualCreditReport.com - which is the only free tool that EVERY CONSUMER is able to pull a report once a year -- And, it will not come up as an "inquiry". The only thing, when you would like to see all three scores, they do charge a minimal fee from the bureaus directly... but again, it's really the only time you can view your credit report without an possible adverse affects of a credit inquiry and/or paying a third party vendor to do the same thing.

Hope that helps!

Tom
  • October 08 2011
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